Can I retire at age 62 with 2,820,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $2,820,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%19.6%
1 years$232,873$230,799$228,775$226,800$224,871$216,205
2 years$115,284$113,137$111,056$109,038$107,081$98,454
3 years$76,092$73,936$71,860$69,862$67,937$59,619
4 years$56,501$54,351$52,296$50,332$48,453$40,509
5 years$44,748$42,612$40,584$38,659$36,833$29,283
6 years$36,916$34,796$32,798$30,916$29,145$21,993
7 years$31,324$29,221$27,255$25,418$23,703$16,948
8 years$27,132$25,048$23,114$21,323$19,664$13,299
9 years$23,873$21,809$19,909$18,162$16,560$10,575
10 years$21,267$19,223$17,357$15,656$14,110$8,495
11 years$19,137$17,113$15,281$13,625$12,135$6,877
12 years$17,363$15,360$13,561$11,951$10,516$5,601
13 years$15,863$13,881$12,116$10,551$9,170$4,584
14 years$14,578$12,618$10,886$9,366$8,038$3,766
15 years$13,466$11,526$9,829$8,353$7,078$3,103
16 years$12,494$10,575$8,911$7,479$6,255$2,564
17 years$11,637$9,739$8,109$6,720$5,546$2,123
18 years$10,876$9,000$7,402$6,056$4,931$1,761
19 years$10,196$8,341$6,777$5,472$4,396$1,462
20 years$9,584$7,751$6,219$4,956$3,926$1,216
21 years$9,032$7,219$5,720$4,498$3,513$1,012
22 years$8,530$6,739$5,272$4,090$3,149$843
23 years$8,073$6,303$4,868$3,725$2,827$702
24 years$7,655$5,905$4,502$3,397$2,541$586
25 years$7,270$5,542$4,170$3,102$2,287$488
26 years$6,916$5,209$3,867$2,837$2,060$408
27 years$6,589$4,902$3,591$2,596$1,857$340
28 years$6,285$4,619$3,338$2,379$1,676$284
29 years$6,003$4,357$3,107$2,181$1,513$237
30 years$5,740$4,115$2,894$2,002$1,367$198
31 years$5,495$3,890$2,698$1,839$1,236$166
32 years$5,265$3,681$2,517$1,690$1,118$138
33 years$5,050$3,486$2,350$1,554$1,012$116
34 years$4,848$3,304$2,196$1,430$916$97
35 years$4,658$3,134$2,053$1,316$830$81
36 years$4,479$2,974$1,921$1,212$752$68
37 years$4,310$2,825$1,798$1,117$681$56
38 years$4,150$2,685$1,683$1,029$618$47
39 years$3,999$2,553$1,577$949$560$39
40 years$3,855$2,429$1,478$875$508$33
41 years$3,719$2,312$1,386$808$461$28
42 years$3,590$2,202$1,300$745$418$23
43 years$3,467$2,098$1,220$688$380$19
44 years$3,351$2,000$1,145$635$345$16
45 years$3,239$1,907$1,075$587$313$13
46 years$3,133$1,819$1,010$542$284$11
47 years$3,032$1,736$949$501$258$9
48 years$2,935$1,657$892$463$234$8
49 years$2,842$1,583$838$428$213$7
50 years$2,753$1,512$788$395$193$6

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $2,820,000, adding $3,697 every year, while hoping to spend $36,034 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 26/45/29 Blend
61$2,820,000$2,820,000$2,820,000$2,820,000
62$3,111,453$2,961,993$2,918,283$3,164,134
63$3,390,482$3,068,791$2,977,706$3,314,762
64$3,696,763$3,179,614$3,037,912$3,472,946
65$4,033,040$3,294,622$3,098,888$3,641,934
66$4,402,332$3,413,980$3,160,623$3,822,664
67$4,807,966$3,537,862$3,223,100$4,016,167
68$5,253,607$3,666,446$3,286,303$4,223,573
69$5,743,294$3,799,920$3,350,212$4,446,121
70$6,281,474$3,938,480$3,414,808$4,685,173
71$6,873,047$4,082,329$3,480,068$4,942,222
72$7,523,414$4,231,679$3,545,966$5,218,906
73$8,238,521$4,386,750$3,612,475$5,517,027
74$9,024,922$4,547,773$3,679,565$5,838,561
75$9,889,838$4,714,988$3,747,204$6,185,682
76$10,841,223$4,888,643$3,815,356$6,560,775
77$11,887,841$5,069,001$3,883,985$6,966,464
78$13,039,351$5,256,331$3,953,048$7,405,632
79$14,306,391$5,450,918$4,022,501$7,881,447
80$15,700,685$5,653,056$4,092,298$8,397,394
81$17,235,152$5,863,052$4,162,386$8,957,304
82$18,924,023$6,081,227$4,232,712$9,565,390
83$20,782,982$6,307,916$4,303,217$10,226,286
84$22,829,310$6,543,467$4,373,838$10,945,089
85$25,082,046$6,788,244$4,444,508$11,727,405
86$27,562,172$7,042,626$4,515,157$12,579,405
87$30,292,807$7,307,007$4,585,707$13,507,877
88$33,299,423$7,581,801$4,656,079$14,520,289
89$36,610,093$7,867,437$4,726,185$15,624,861
90$40,255,745$8,164,365$4,795,936$16,830,641
91$44,270,464$8,473,052$4,865,233$18,147,586
92$48,691,807$8,793,986$4,933,973$19,586,656
93$53,561,157$9,127,677$5,002,047$21,159,918
94$58,924,119$9,474,658$5,069,340$22,880,652
95$64,830,944$9,835,481$5,135,728$24,763,484
96$71,337,008$10,210,727$5,201,082$26,824,514
97$78,503,329$10,600,999$5,265,264$29,081,468
98$86,397,148$11,006,927$5,328,130$31,553,868
99$95,092,561$11,429,170$5,389,526$34,263,207
100$104,671,217$11,868,415$5,449,291$37,233,156